Reliance Industries Sets Oct. 28 As Record Date For 1:1 Bonus Issue

Reliance Industries Ltd. on Wednesday announced Oct. 28 as the record date for the issue of bonus shares in the ratio of 1:1.

On the same day, shareholders of the Mukesh Ambani-owned company gave their nod for the bonus issue with more than the required majority, according to an exchange filing.

RIL had announced the 1:1 bonus issue during its annual general meeting on Aug. 29, 2024. The board approval for the issue was granted on Sept. 5.

Earlier this week, there was anticipation that RIL would announce the record date for the bonus issue during the board meeting on Oct. 14. However, no announcement was made related to it following the meeting.

This marks the sixth bonus issue for the oil-to-telecom conglomerate since its listing, and the second in this decade. The last bonus issue was approved on Sept. 7, 2017, also at a 1:1 ratio, according to BSE data.

The company's first bonus issue dates back to fiscal 1981, with a 3:5 ratio. This was followed by a 6:10 issue in fiscal 1984, and three issues with the ratios of 1:1 each in fiscals 1998, 2010, and 2018.

RIL reported a 0.3% sequential decline in revenue at Rs 2.31 lakh crore for the three months ended September. Net profit for the period grew 11% quarter-on-quarter to Rs 19,323 crore as against Rs 17,445 crore.

Operating income, or earnings before interest, taxes, depreciation, and amortisation, rose 0.8% year-on-year to Rs 39,058 crore as against Rs 38,765 crore in the same quarter last year. The Ebitda margin expanded to 16.9% from 16.7% in the corresponding period of the last fiscal.

RIL shares rose as much as 1.49% on Wednesday to Rs 2,728 apiece on the NSE. The stock closed 0.75% higher at Rs 2,708.15 per share. This compares with a 0.34% decline in the benchmark Nifty 50. The company's has risen by 15.53% in the last 12 months and by 4.55% year-to-date.